The study is situated within the growing global interest in Nature-based Solutions (NbS), biodiversity finance and carbon markets, where Indigenous Peoples and Local Communities (IPLCs) are increasingly recognized as critical stewards of forests, biodiversity, and carbon-rich landscapes. However, their governance systems, traditional institutions and Indigenous Knowledge are often inadequately integrated into project design, implementation and benefit-sharing mechanisms.

The purpose of the study is to examine IPLC governance and the application of Indigenous Knowledge Systems and Practices (IKSP) in NbS. It specifically seeks to understand whether existing NbS and nature-based finance projects are enabling meaningful community-led conservation, or whether they remain largely externally designed, top-down and focused on narrow ecological or carbon outcomes.

The scope of the study includes a review of IPLC governance, tenure arrangements, traditional knowledge systems, community participation, Free Prior and Informed Consent (FPIC), gender inclusion and project-level decision-making in NbS. The finding will contribute to the development of a white paper on effective IPLC governance for biodiversity credit markets in Asia.